Indiana

INDIANAPOLIS — Milhaus has opened Grid, a $30.4 million apartment project located at 520 E. Washington St. in downtown Indianapolis. Grid includes 175 apartment units and 175 car parking spaces. Amenities include coworking spaces, multiple fitness areas, an outdoor courtyard, bark park, pet spa, coffee bar and resident lounge. The property serves as Milhaus’ first opportunity zone investment in the U.S. Milhaus says that Grid’s prominent location in the Cole Noble neighborhood served as inspiration for the property name. Indianapolis was originally plotted on a grid structure upon its founding in 1820. Local artist Jackie Head created a mural for the northwest corner of the building. The project team included KTGY Architecture + Planning, Civil & Environmental Consultants Inc. and DkGr.

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JEFFERSONVILLE, IND. — Kenco, a third-party logistics provider, has opened a new e-commerce fulfillment and distribution facility in Jeffersonville, three miles north of Louisville, Ky. The 250,000-square-foot space is designed to serve e-commerce merchants as well as business-to-business customers and is scalable to over 660,000 square feet. Kenco says the Jeffersonville location was selected to enable customers to reach the vast majority of the U.S. population in one to two days via ground transportation.

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INDIANAPOLIS — Discovery Senior Living has unveiled plans for a multi-million-dollar capital investment and renovation of Discovery Commons at College Park, a 116-unit independent living community located in Indianapolis. The multi-phase project will include interior and exterior improvements. The initial phase will include new seating and gathering areas, including an upgraded lobby. Interior enhancements will also include renovated bathrooms, new flooring, lighting, furniture and décor as well as a new color palette. The initial phase is underway with completion slated for late summer. The second phase calls for a renovation of the dining room, enhancements to the community’s kitchen and design upgrades for the resident corridors and library. New furniture for both the interior and exterior of the community will be included in the second phase, which is set to begin late this year. Discovery has owned and operated the property since July 2019. Discovery Design Concepts is leading the interior design aspect of the project.

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CLARKSVILLE, IND. — Cornerstone Group is underway on the development of Bolt + Tie, a 96-unit luxury apartment community in Clarksville, just north of Louisville, Ky. Nestled along the Ohio River, the community is expected to open in spring 2021. Monthly rents have yet to be disclosed for the units, which range from 577 to 1,451 square feet. The four-story development will also feature Elevate Office Suites, a mix of 46 office suites, 23 salon suites, 12 micro commercial spaces and a coworking space on the ground floor. In addition to a rooftop terrace, Bolt + Tie will include shared professional spaces such as conference rooms, a pitch presentation area, mailroom and package lockers. Envoy Inc. is a project partner. Bolt + Tie is the latest development at Water Town Square, a 28-acre business park.

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INDIANAPOLIS — Colliers International has arranged the sale of two industrial facilities within Park 100 on the northwest side of Indianapolis. The sales price was undisclosed. Building 133, located at 5251 E. 81st St., is a 20,530-square-foot warehouse fully leased to Iron Mountain Information Management. Building 641, located at 6061 Guion Road, is an 87,064-square-foot property fully leased to Mauser Packaging Solutions. Alex Cantu and Alex Davenport of Colliers represented the seller, Shear Property Group. Thomas Wiley of Reliant Partners represented the buyer, California-based Tower Investments LLC. Park 100 is a 19 million-square-foot industrial park.

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KOKOMO, IND. — Stan Johnson Co. has brokered the $2.7 million sale of a 10,000-square-foot healthcare facility leased to Advanced Medical Imaging in Kokomo in central Indiana. The single-tenant property is located at 2008 W. Boulevard St. Constructed in 2003, the Class B building sits on 1.4 acres near two hospitals. Rachel Walz of Stan Johnson represented the buyer, a Chicago-based private investor. Advanced Nuclear Medicine LLC was the seller.

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CROWN POINT, IND. — Greystone has provided a $14 million FHA-insured loan for the refinancing of Cypress Pointe Apartments, a 174-unit multifamily property located in Crown Point, about six miles southwest of Merrillville. The borrower was Bayshore Properties. The Section 223(f) loan carries a 40-year term, 35-year amortization and a fixed rate. The refinancing will enable Bayshore to continue with ongoing maintenance and renovations. Originally built in 1978, Cypress Pointe features six buildings along with a clubhouse, pool, fitness center and playground.

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HUNTINGTON, IND. — Indiana Physical Therapy Inc. has signed a retail lease for 4,200 square feet at the Huntington Forum Shops in Huntington, about 25 miles southwest of Fort Wayne. The shopping center is located at 2880 Walmart Drive. Stanley Phillips and Dave Horacek of Bradley Co. represented the landlord, SHIV Huntington LLC, in the lease negotiations. Indiana Physical Therapy now operates 19 locations across the state.

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INDIANAPOLIS — KeyBank Community Development Lending and Investment has secured $27.7 million of construction financing, $13.2 million of tax credit equity and $18.4 million of Freddie Mac permanent financing for the development of a 210-unit affordable seniors housing property in Indianapolis. Herman & Kittle Properties was the borrower. Known as The Reserve at White River, the project will include two four-story buildings, 14 cottage-style, single-story buildings and a 5,000-square-foot clubhouse. The project will use income averaging so that 150 units will be set aside for tenants earning 60 percent of the area median income (AMI), 51 units will be set aside for those earning 50 percent AMI and nine units will be reserved for those making 70 percent of AMI. All of the units will be restricted to residents age 55 and older, with 21 of the units accessible for those with special needs. Kyle Kolesar, Victoria O’Brien and Robbie Lynn of KeyBank structured the financing.

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INDIANAPOLIS — Black Gate Partners has acquired Geist Centre in Indianapolis for an undisclosed price. The 72,348-square-foot shopping center is located at 11625-11715 Fox Road. Anchor tenants include CVS Pharmacy and Dollar Tree. CBRE represented the seller, Phillips Edison & Co. Columbus, Ohio-based Black Gate focuses on retail leasing, investment sales and development.

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